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The first student residence inside Nicosia’s walled city will open in November, offering 13 rooms as part of a larger plan to create 380 student spaces. This project is part of a government effort to breathe new life into the historic area, which has faced economic difficulties for years.
The Ministry of Interior has launched a grant program to encourage property owners and tenants to convert buildings into student housing. The program offers financial support, covering 75% of the cost to renovate or expand buildings up to 30% of their size, and 50% for larger extensions.
This initiative is part of Cyprus’ Recovery and Resilience Plan, funded by the European Union. With a total budget of €11.3 million, the goal is to provide affordable housing for students with controlled rent, while also boosting the local economy and encouraging sustainable building practices.
The Ministry’s broader plan includes leasing the Phaneromeni building to the University of Cyprus, improving transportation for easier urban mobility, and offering additional grants for housing and business ventures. All these efforts aim to make the walled city a lively, student-friendly area while preserving its historical charm.
[With information from PhileNews]
